The story

Venezuelan President Hugo Chavez's detractors danced in the streets Monday after voters shot down a referendum that would have allowed the firebrand leftist to seek re-election indefinitely and tightened socialism's grip on his oil-rich nation.

In Caracas, Valencia, Maracaibo and other major cities, large crowds spilled into the streets, shouting, chanting, clapping and waving flags. One man carried a sign proclaiming, "Vota No," which by Monday was more an exclamation than an imperative after voters the day before dismissed 69 proposed amendments to Venezuela's 1999 constitution.

Chavez said Monday he accepted the vote, calling the slim margin of victory -- 51 percent to 49 percent, according to early reports -- a "photo finish." Read full article »

CNN's Harris Whitbeck contributed to this report.

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